Accounting for Partnerships推荐.pdf

12 Accounting for Partnerships A Look Back A Look at This Chapter A Look Ahead Chapter 11 focused on how current liabili- This chapter explains the partnership Chapter 13 extends our discussion to ties are identified, computed, recorded, form of organization. Important partner- the corporate form of organization. We and reported. Attention was directed at ship characteristics are described along describe the accounting and reporting notes, payroll, sales taxes, warranties, with the accounting concepts and for stock issuances, dividends, and employee benefits, and contingencies. procedures for its most fundamental other equity transactions. transactions. Learning Objectives CAP CONCEPTUAL ANALYTICAL PROCEDURAL C1 Identify characteristics of partnerships A1 Compute partner return on equity P1 Prepare entries for partnership and similar organizations. (p. 480) and use it to evaluate partnership formation. (p. 483) performance. (p. 492) P2 Allocate and record income and loss among partners. (p. 483) P3 Account for the admission and